Principal Street Partners LLC Has $5.98 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Principal Street Partners LLC reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 15.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,304 shares of the company’s stock after selling 6,530 shares during the quarter. Principal Street Partners LLC’s holdings in PepsiCo were worth $5,979,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PEP. Charles Schwab Investment Management Inc. grew its position in PepsiCo by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after acquiring an additional 1,125,059 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after purchasing an additional 905,468 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of PepsiCo by 2.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,383,621 shares of the company’s stock worth $1,765,735,000 after purchasing an additional 236,091 shares during the last quarter. Fisher Asset Management LLC raised its holdings in PepsiCo by 5.7% in the 3rd quarter. Fisher Asset Management LLC now owns 7,854,268 shares of the company’s stock valued at $1,335,618,000 after buying an additional 422,080 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in PepsiCo by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after buying an additional 561,465 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PEP shares. Barclays dropped their price target on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research report on Friday, September 20th. TD Cowen downgraded PepsiCo from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $190.00 to $183.00 in a research report on Thursday, October 10th. Finally, Bank of America reduced their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus target price of $183.92.

PepsiCo Trading Up 0.6 %

NASDAQ PEP opened at $163.05 on Tuesday. PepsiCo, Inc. has a 52 week low of $155.85 and a 52 week high of $183.41. The business has a 50 day moving average price of $168.73 and a 200-day moving average price of $170.78. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company has a market cap of $223.70 billion, a price-to-earnings ratio of 24.05, a P/E/G ratio of 3.02 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same period last year, the company earned $2.25 earnings per share. The business’s revenue was down .6% on a year-over-year basis. As a group, equities analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 6th will be issued a dividend of $1.355 per share. The ex-dividend date is Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.32%. PepsiCo’s dividend payout ratio (DPR) is currently 79.94%.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.